Costco Restricts Gold Purchases While China Buys Even More
UBS Says China Bought
“You know things are getting weird when your mom starts eyeing gold bars at Costco like it’s toilet paper in 2020.”
— Social media user
Costco Tightens Gold Bar Purchase Limits Amid Surging Demand and Prices
Location: Issaquah, WA | Date: May 28, 2025
Costco is imposing stricter limits on member purchases of gold bars as demand surges alongside record-high bullion prices. As of this week, members are restricted to one 1-ounce gold bar per transaction and two per 24-hour period, down from an earlier cap of two per transaction.
The retailer, which began offering 24-karat gold bars in 2023, now lists 1-ounce South African bars at $3,279.99, significantly above the ~$2,000 pricing seen 19 months ago. Spot gold has appreciated over 70% during that period, reaching all-time highs in April 2025.
Further Inventory Limits:
PAMP Suisse 1oz Lady Fortuna Gold Bar: One per transaction; max two per 24 hours (down from five per 24 hours in January).
1oz American Eagle Gold Coin: $3,329.99; one per transaction; max two per 24 hours.
10oz Silver Bar: $359.99; one per transaction; max ten per 24 hours.
5g Gold Bar on 18K Chain: $1,149.99; no stated limit.
Costco did not issue a comment in response to media inquiries.
During Costco’s September 2023 earnings call, then-CFO Richard Galanti stated that gold bars were “typically gone within a few hours” after being listed online. Sales of gold and jewelry were reported up double digits for the 24-week period ending February 16, 2025.
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UBS House View on Gold allocations and China’s increased monthly buying